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Shares of micro-cap playable media company Super League Enterprise Inc (NASDAQ:SLE) are soaring in extended trading on Monday after the company announced an investment from Evo Fund.
SLE stock is showing exceptional strength. Get the market research here.
What Happened: Super League Enterprise entered into a definitive agreement for private placement financing anchored by a $10 million strategic equity investment from digital asset treasury investor Evo Fund.
The company anticipates a total of $12 million to $20 million in gross proceeds from the private placement, which will be used to help the company regain compliance with Nasdaq listing requirements and complete the final step of its corporate restructuring. Super League noted that it intends to pursue a digital asset strategy.
“Together with the recent reductions in our cost structure, this transaction will set us firmly on a path to creating durable, long-term value for our shareholders as a gaming media company poised to enter the crypto economy,” said Matt Edelman, president and CEO of Super League Enterprise.
Besides going to a brokerage platform to purchase a share — or fractional share — of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For Super League Enterprise, it is in the Communication Services sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
SLE Price Action: Super League shares were up 141.16% in after-hours, trading at $7.91 at the time of publication on Monday, according to Benzinga Pro.
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